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In Four More Years We'll Be Detroit

arpiem Wrote: Nov 17, 2012 10:30 AM
We're not wealthy, but we bought a house just one house removed from the bay. Our first floor is high enough, but the garage isn't and we lost most of what was in there. Flood insurance doesn't cover it, so there's no subsidy in our case.

From one moment to the next the city of Detroit doesn’t know where its next bailout is coming from. Chronically unable to pay its bills, the city looks to the state for cash gifts to stave off default. Operating under the terms of a consent agreement hammered out with the state, Detroit faces fiscal uncertainty largely because it has failed to get adequate concessions from public employee unions that are unsustainable. And those concessions that they have wrested from unions, politicians in Detroit have been unwilling to enforce.     

One prominent Detroit attorney, however, is facing the future of the Motor...

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